Antoine Rolland Opalesque Industry Update - NewAlpha 4 Genesis has completed its first closing of $150 million raised from French and Swiss institutional
investors. NewAlpha Asset Management is considering a final closing in late July 2011 with an asset target of
$250 million.

The fund aims to invest in hedge funds offered by early stage hedge fund managers and structure with those
a strategic partnership through an income sharing scheme on one side and support in risk control and fund
raising on the other side.

Antoine Rolland, CEO of NewAlpha Asset Management, "despite the cautious attitude of institutional
investors towards alternatives, this first achievement confirms the interest of institutional investors for hedge
fund seeding. It is also a strong sign of trust for NewAlpha's business model and team because all of our
investors of the three previous vintages will be present in NewAlpha Genesis 4. I’m particularly convinced
that the recent market developments are reshaping deeply our industry where talented and under-resear-
ched investment talents are emerging globally. NewAlpha Asset Management is extremely well positioned
to participate to this cycle and to offer its clients an access to this pool of talents through commingled or
dedicated portfolios.”

According to Hedge Fund Research, the managers of less than two years show a superior performance to
the entire universe. The average annual outperformance has been 6.3% over the period 1995-2009.

NewAlpha's portfolio research team, which handled more than 300 seeding proposals in 2010, has already
identified, selected and entered into preliminary negotiations with several managers offering attractive featu-
res, both in terms of future performance and in business development. NewAlpha Genesis 4 will start to
deploy capital in Q2 2011.

Since 2004, NewAlpha Asset Management has developed a unique dialog with institutional investors around
its products. For instance, investors are consulted before every investment and participate in the quarterly
investment monitoring committees. This rare transparency in alternative investment and the additional return
provided by the revenue sharing with the managers differentiate this business from other forms of multi-
management.
NewAlpha Genesis 4 has an annual performance target of between 8 and 12% for an investment horizon
of 3 years minimum.

NewAlpha Genesis 4 is a product designed for both institutional clients and qualified investors.

About NEWALPHA AM / OFI Group
Established in 2003, NewAlpha AM offers institutional investors access to new innovative managers through
a French-registered incubator fund.

NewAlpha AM is a subsidiary of the OFI Group, which is celebrating its 40th anniversary this year. The OFI
Group manages 47.2 billion euros under management as of 31 December 2010.
Since its creation, NewAlpha AM has signed 14 strategic partnerships ans has invested 380 million euros
in investment managers located all around the world.

In november, NewAlpha AM has received the award "Best Seeding Platform 2010" at the Fund of Hedge
Funds Awards organised by Hedge Fund Review in London. Corporate website: www.newalpha.net